Bitcoin: still no reason to buy for now, IMO

Unless you have some spare money and want to gamble, there is still no signal that this is the bottom, or that Bitcoin is reversing. Maybe it is bottoming, but we cannot know it for now.
This bear market could last another year, and why not another years, we do not know.
Bitcoin could reach the 3k support, or hit the weekly pink Smma

There is no guarantee that if hit, the 3k support and this pink Smma will hold Bitcoin.
It could reach the next support below at the 1k's, and could even go lower, we do not know.

Therefore, you and me are probably wise investors, so we want :
- to see Bitcoin going above the blue and pink Smma, and see it settling above them and use them as support to why not create another raising parabola.

This is imperative to respect that in order not to catch again falling knives since the 20k, the "buy the dip" technique is very risky unless you are a very experienced fund manager.
Moving averages is the most reliable and most used tool to manage funds, it is almost always right to long term invest into an asset using this tool.
Beeing on the side lines in Usd is a position, and there is absolutely no shame to remain flat and waiting for the time.
Patience is key.
GL

Comment:

The 2006 Nikkei trap
One of the rare cases when the Moving Averages formed a bull trap
(Post Smma buy signal trap caused by the 2008 crash)

Comment:

This TA is about long term investing.
For trading, this thing possibly still have a chance to retest the 5000 short term.
My point of view.